it is yours. dagen: we are staying on top of this toy. the president's health-care law on capitol hill and there's a lot of fire being thrown. connell: you have been watching kathleen sebelius on what happened with the launch of obamacare. >> in these early weeks, access to healthcare.gov has been a miserably frustrating experience for too many americans including many who avoided years, there's the entire life for the security of health insurance. i am as frustrated and angry as anyone with the flawed launch of healthcare.gov. let me sail directly to these americans you deserve better. i apologize. i am accountable to you for fixing these problems and committed turn your confidence back. dagen: talking about falling on your sword, kathleen sebelius looking to shoulder the blame

for problems with the rollout of the health exchanges. continue to breakdown. connell: we will go back live as things heat up in the q&a, rich edson has been monitoring the whole thing and he joins us from washington d.c. with a latest on capitol hill. rich: she is confident by november 30th they will have a functioning web site but she did say when it comes to the miserably frustrating experience it has been for the rollout of healthcare about them that she is taking responsibility. >> who is in charge, madam secretary? >> the person now in charge as an integrator is the base >> who was in charge? >> up until -- >> who is the individual -- >> michele snider. >> michele nighters the one responsible for this debacle. >> excuse me.

she says it is that process data to get rid of those health care plan they now have to conform to obamacare standards making the more extensive. dagen: thank you for that. rich edson in the capitol building. kelley moore analysis in a moment but back to that hearing

room, congressman phil being free handling the question of kathleen sebelius. let's listen in on that. >> minimum coverage requirements of the affordable care act. the power to determine the criteria for hard exemption, will you provide all these individuals a hardship exemption since the affordable care act has taken away their plant? would you do that? >> no and i think those numbers are far from accurate. 90% of americans who have health insurance will be in a continuous plan. medicare, medicaid.

>> it sounds like a hardship. >> thank you, mr. chairman, and thank you madam secretary for being here. thank you for all that you and your staff have done. and thank you because we will make sure that the affordable care act will provide benefits to women and children and medicare beneficiaries and security to those as well as lower costs and of course the biggest complain has been about the application and it will be addressed. but i know that my colleagues would recall that the congressman and i have always been concerned about those who do not have internet access and those who are uncomfortable at

using the internet and would not use it. there are other avenues for enrolling, either by telephone or by paper, either alone or with the help of a certified application assistant. and my question goes to one of the rumors that has been circulating about how the pourable care act has affected part-time workers. some of my colleagues on the other side claim that the companies are moving workers to part-time jobs because of the health care reform law and that low-wage workers are being detrimentally affected. and i understand why these claims are being made, it is just another part of the ongoing effort to undermine the law. would you take a few minutes to set the record straight on this issue? >> certainly. 95% of businesses in this

country are small businesses. and there is no responsibility that any of those employers have to provide health care coverage for their employees. but there are now tax credits available for some of the smaller employers who want coverage to come into the marketplace. and for the other businesses hiring 50 or more, there is a standard that says an employee is she or she works 30 hours a week and that really came from a market snapshot from the small business administration of where the employee benefits are based on common the hours of work. and what we know about the

economic data is the high point of part-time workers was in 2008 at 2009 at the height of the last recession. it has been decreasing each and every year and there is no data to support the fact that there is an uptick based upon the impending affordable care act. there may be some employers making decisions that i can tell you that there is no economic or employment data that supports the notion that this is not an effective law. >> that's true. and it is my understanding of part-time workers are at their lowest percentage of workers in many years right now part-time workers have never had options in the marketplace they are

full-time college, but they will have options. >> just to be clear. >> you'll expected this website to work based on everything you had been told by contractors up to the point of launch? >> yes, and i desperately want to get it working. >> more than anyone, it sounds like. >> we are building back the confidence of the public by fixing a. >> thank you, mr. chairman, for holding for hearing. and thank you for being with us. kathleen sebelius kamas allender of if they had delivered the contract they had been asked to build. lancaster today delivered the contract system that they were

contracted to build? >> what we know is that we have a system that doesn't function properly. >> we definitely know that. >> they either said this is hundreds of millions of dollars to build or it wasn't. >> we can see that the products tested and verified individually and clearly was integrated and don't work well together. >> when you plug it in together, it doesn't work and not as a system that doesn't work. one of the questions i had and others have is that somebody in your agency made a decision literally weeks before to change

the system instead of going from a browser ability just like on amazon.com to look out products before they purchase and how consumers are used agreements. he made the decision to change it around and gather information before you let them see prices. was that you that made the decision? >> yes, sir. >> it was a team that did not impose additional action. >> once the people were getting reports from all the constituents of dramatically higher prices than what they were expecting. it did you make that decision because they might not want to buy the products or gather their information first? >> first, i did not make the decision. i was informed about the decision with they have been

spending time getting into the system. >> i did get kicked out many times and i do want to share some stories with you from some of my constituents. because we started what people are calling score stories from our recipients. brando sent my health care premium went up 30% and that's over $350 per month. we had michelle from slidell saying that our insurance is going on $400 per month and are deductible has increased. and then you have shone from covington who says my current plan united health care it is no longer being offered due to obamacare. and i received a letter stating that the new health care law was indeed the reason for the removal of my current health system. so what would you tell chandra likes his plan and has now lost it and what would you tell him now that he has lost his plan?

>> i would tell him to shop the marketplace and out of the marketplace. >> if united shows -- >> if you keep his plan in place, if you like your plan, -- >> look -- you and i may disagree over who you work for. you work for shone, and madam, secretary. he lost his plan and there are thousands and millions of them that lost the planet they like because some bureaucrat in washington said that we think that your plan is not good enough even though you like it and your promise to keep it and you're not able to keep that plan and i think you deserve that you deserve to give him a better answer than that. >> the gentleman's time has expired. >> thank you.

connell: a question from kathleen sebelius, we will be back with a hearing, but he had on the key issue that we have been talking about. what he said and promised in the administration and what was actually delivered in the rollout of obamacare. dagen: potentially millions of americans losing their individual plans and they have to go out and buy a new plan based on the requirements and in many cases it is much more expensive than what they were paying. let's bring in the editorial board member. usually in the hearings you do not hit a topic so succinctly and clearly. my issue is the individual insurance market was broken. it was one of the worst parts of the entire insurance industry before obamacare they did not fix it. >> i think he hit on the key issue, which is that she is promising the website will get fixed in a month, maybe a week,

maybe never. but the larger point of people losing these policies is that this is the one part of the market are you really have something of a free market and consumer choice and driving prices. this is why it is a key part of obamacare to crush the market and force those people who subsidize the rest of the pool. >> i think it's interesting that you started your answer with that. >> if you ask people on medicaid whether they think they're getting a good service or they are satisfied, you will get huge distortions in the insurance market caused by government policy review that was my point is that there are dispersions that have created more distortion. >> i guess that what i would say is what you see in the individual market is sort of the germ of a functioning market that we want to encourage instead of crushing it. but the point of obamacare is

how do you get young healthy people to voluntarily by policies that make no sense economically for them and to voluntarily subsidize others. this will be a lot tougher given that the website is not working and you're trying to convince people that we want you to pay now so that you can subsidize the exchange. connell: we want you to go back to a website a couple times that you tridentine work. how many people will go back there if they've already had problems. >> and then you get questions about security. she says this thing work in a month. a very respected voice on intelligence saying that you need to monsters two months just to do the security test and why aren't you doing it. >> if you don't have young people signing up, the younger and healthy people, to subsidize those who are older and who are sick for lack of a better word, if that doesn't happen, you'll

basically have a government that will hunt these people down and find them. connell: what is going to happen is a year from now at the big sticker shock is going to be in the exchanges and we are seeing in now with people having their policies canceled in the individual market because of obamacare. they are upset. the exchanges are going up if people have involuntarily signed up and that is where people are realizing that this thing may fail in a fundamental way a lot earlier than people expect it to. because many say are we going to talk people into buying this thing. >> which he was asked about those in the briefing room, right away she blames them and then says that we have to put it in context, blaming the insurance companies and the people getting kicked off their plans. so what is a concept in your view. >> i don't think it's going anywhere. you can see from 2010 on, there

was a grandfather clause but then allowed immediately, early in 2010, regulation to start chipping away at knocking out things. but the whole point is to make a legal plans of the government doesn't approve of. dagen: goes to the point the government knows best. those bureaucrats who wrote this law, they know better than the individuals were buying insurance in the first place. like here's the health care coverage in need and the evil insurance companies are taking advantage of you and i don't care what political persuasion they are, they are saying, wait a minute, you took my choice when i'm forced to buy something you say that any dad. >> even in the individual market you did have a lot of regulation and this is not an entirely free market. i think this is elements that we can work on. but the buzzword is it was the wild west and what they mean by that is any market where consumers are permitted to make decisions about what is covered.

dagen: and being taken advantage of. connell: let's go back to the hearing room and listen to what is being said. >> was there sufficient enough time limited medicare.gov. the response i got back was on medicare.gov, which is a less complicated site. she stated that we had sufficient time to adjust the system. and i asked her to follow what was that sufficient time and she said we had a number of months before the system went live at the time. and i just want to make sure. and i just want to make sure because sometimes things are not reported accurately. but on october 18 of this year, there are no questions going back over and i want to make sure that your quoted properly

but after two weeks of review, the hhs secretary concluded we didn't have enough testing for a very consultative project. the online insurance marketplace is from a year of testing and we had two years and almost no testing. is that correct? >> i have never suggested that we needed five years. >> that is one of the things that we wanted to check. >> and then last week, when we were down in texas, you're being asked by a reporter about the system and the launch. one of the parts of the question was at what point did you realize the system wasn't going to be working the way that you envisioned envisioned before the launch and why didn't we stop it before the launch? and again, this is what was reported. if we had another six months we

would probably test further. but i don't think anyone realizes the volume that causes such problems that we have. going back to ms. campbell's statement that they kept it more extensively on a system that was not as complicated that hhs decided to go forward was on a very short testing, do you think that was acceptable? >> looking back it would have been ideal to do it differently. connell: rea, the testimony of the health and human services secretary continues and congressman bob goodlatte was questioning kathleen sebelius. dagen: stay with us on us. it matters to every single person on this country. when we made our commitment to the gulf, bp had two big goals:

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connell: we are covering breaking news. kathleen sebelius continues her testimony and we will go back to it in a moment. one issue is these millions of americans have risked losing their current health insurance and think the obama administration knew for years that the grandfathering regulation that we talked about a few moments ago would wipe out

existing health insurance plans and here is a quote that i am reading that after some period of time, most plans will relinquish their grandfathered status since plans rarely stay the same. >> it is something that he touched on briefly. dagen: this is the excuse of the administration officials, have you heard kathleen sebelius to the fallen back on how these plans were grandfathered in. >> they claim there's a grandfather and the law, they also have power to make that smaller and smaller over time. that is what they have done. you can go back to hhs analysis and 2010 saying exactly what we have been talking about. that is a part of the individual market and a lot of those plans are going to be made illegal by those laws. >> okay, so it's not really a decision is illegal for them to go back to the conversation we're having a few minutes ago.

because they can save the insurance companies fall. i guess they could say that we are going to upgrade these plans so they are in line with the specifications or they could drop the coverage. but either way they have changes? >> you have a consumer on one hand an insurance company on another. they don't want to spend a lot of money and don't need a lot of stuff that it doesn't cover. this was a market transaction and the government does not like market transactions. they want people moving into the exchange system were government dictates what you are paying for and what you are getting. >> on that note you have a young and healthy individual and you need to subsidize those who are sick or older. if they don't show up, you're talking about how you will have problems with premiums a year from now. but do you think that you will get a voting population who are getting subsidies and so forth.

>> you have a new voting bloc, new recipients. they may not be young, they could be higher income. not that they are millionaires. >> there are winners and losers and especially over the long

term. >> long-term and you have probably not talked about declining quality, is that you can probably go anywhere in the city and find doctors who are saying that i am getting out and retiring and i have no interest in this. >> or you can pay cash and not come see me. connell: that's right. >> is saying what is covered and highly regulated in the manner and the price and etc. and we get into this overtime, which we will be ratcheting down the care dagen: in terms of what connell mcshane was saying, you will have a chunk of the population is you're talking about that benefits from this. whether you qualify for subsidy or not.

but now i need to get insurance and it's going to be fairly reasonably priced. >> this is the question. connell: either there or going to be happy people are we are going to have fear. when the premiums go up next fall because not enough are overpaying for policies that they don't need, and those people will be reckoning. >> there is a logical or reasonable argument that you can make if you support this. because you have the technical problems and they have quoted one thing and set another thing and those are serious issues.

>> maybe this has to be written in 18 months from now and are we going to go to single payer or turn back the market. >> i think that yes, the answer will be great but it is the evil ensures that are doing this and this includes after our long after it we need to get this. dagen: how could cost not go up for those who have employer-based insurance? the cost gets spread out to everyone. >> and that is another issue. employers eventually start talking people into the exchanges and the ones that are recovering and that is, i think

they will. connell: james freeman from "the wall street journal", we certainly appreciate the good discussion. also juan williams, there should be more fireworks. we will be right back and we are going to take a quick break

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order now and get this document shredder to keep sensitive documents out of the wrong hands. just dagen: checking on your markets as we continue to manage this hearing on capitol hill. a report on job creation came up with about 20,000 jobs short. the monthly jobs report doesn't come out until next friday because of the shutdown. connell: the story of the hour is these on capitol hill.

let's listen in with what is happening with kathleen sebelius and her testimony. let's listen on an. >> it makes it illegal for them to raise rates on someone after they became sick or got rid of pre-existing conditions. one secretary, one last note is that we have received some horrible news that there are bad actors are taking place of fraudulent websites misleading figures into disclosing personal information. i signed on with a letter to you out of california to request that you prioritize our prevention efforts and how can we protect the personal information? >> i can tell you that the president felt very strongly that that needed to be part of the outreach effort.

and these are representative of insurance commissioners and the u.s. attorneys and the justice department and the federal trade commission, which has jurisdiction to make sure that we first got out ahead of some of this developing consumer outreach and that that no one should ever give personal health information because personal health information is not needed for these policies any longer. that's a red flag. they want to make sure that people turn over potential fraudulent acts and we have put trading in place for navigators and we have our law enforcement link. >> the gentleman's time has expired and i would just note that we are hoping that we can have all members asking questions and we also know in four minutes we will have a little trouble. i also asked that we try to limit our questions and answers to no more than two minutes and

i have talked to mr. waxman. >> we would be happy to provide timely answers. >> with that we will try two minutes. >> i guess i have won the lottery on the two minutes. [laughter] twenty seconds, mr. chairman. on the website, madame secretary, the contractors testified last week that they needed more than two weeks for end-to-end testing. why in your opinion what is there not more than two weeks? >> we have the insurance policies and companies were loaded into the system we could

test up until then but it wasn't until september -- mid-september, that that was done. they said that we would've loved more testing time but we think that we are ready to go ahead. >> i believe that that will be a dispute between ms and hhs and if there's anything we can do regarding that. because obviously that didn't work. and obviously the website would be ready. and in my judgment, the president's statements were overstatements and is an indication of that. there is a report in the newspapers that 800,000 people in new jersey purchased their policies and individual or small employer markets amount will be affected by this. the previous question mention the fact that an individual market you could keep the policy grandfathered and get

regulations issued in saying that it would not be a continued issue for so much of a change in a co-pay. is that accurate, and do you believe that that is a significant change? >> and grandfather regulations we gave a guide for help pricing to change and i think it was in most cases a 15% the french and. there were some issues that were more rigid than not. i would say in terms of having companies be able to collect a profit margin, that was built into the grandfather status. >> that's too little of it changed. >> thank you, mr. chair. and welcome. welcome, honorable secretary. thank you for fielding questions

connell: kathleen sebelius is continuing her testimony. you heard from the gentleman getting some of the key questions from "the washington post" backcheck that was published this morning. so that is really the crux of the issue, not just the technical glitches or whatever you want to call them. dagen: why wasn't he more forthright and explicit in what he said. connell: that may have been the problem is that he was too explicit and not nuanced enough. he said if you like your health plan you can keep it. that's one of the quotes against played over and over. but for some it was not the case juanl. williams who is a fox news contributor and one of our favorite people to talk to. it doesn't seem like an oversight by at least his advisors based on the speech as he was giving him what he was

saying in terms of needing to be more exact and detailed. >> i think it is open the door to the critics to run for the idea that he was lying. that he lied to get this through and get the american people on board and they really aren't board onboard, especially conservative democrats, who as you know how concerned that the time that the law is passed. what we heard from kathleen sebelius is wait a second, there is a grandfather clause here that says that any plan that was in place at the time that the health care law was enacted can still stay as it was. dagen: may i jump in. that was tinkered with. the way it reads as if that planned changes even the smallest way, it is essentially nullified in the longer grandfathered.

and that's something that seems like they are glossing over. >> i think what you have to understand is that in their position, if you will, i think that she said this in the hearing, people that will lock you out and i'm the author plan if you have pre-existing conditions and hit the cap in terms of spending and if you get this. they put this in place saying that these are protections for consumers who have not had this been appropriate ways for when they get sick. connell: going back to what he said at the beginning, a basic political question about what the president had said here and the quotes of you like you're planning you can keep it. to the president lied? would you characterize it that way, and if you don't, how is that not belie interview? >> i don't think it is a lie. i think that for most people, i believe that 60 plusplusplus pef

the market, there is no change. but what we are talking about is a small percentage of people in the individual market. what we are talking about for them is in some cases plans that don't meet the new requirements of obamacare. a higher level of service that is available. and i believe for most of them even with the change they will get better coverage at lower cost and the people have to pay more. >> when you're covering myth, we have to squeeze in a quick commercial break. but we will pick this up on the other side with juan williams.

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try align. it's the number one ge recommended probiotic that helps maintain digestive balance. ♪ stay in the groove with align. connell: as we cover the breaking news out of washington, we are having an important discussion which continues in the house energy and commerce committee with the health and human services secretary kathleen sebelius testifying live. as events warrant we can go back to that. democrats in kentucky handling the questioning right now. getting hitting the key issues here. dagen: those people in the insurance market who are losing existing coverage from their insurance the insurance providers will have to go out and buy basically what the

government designed health care plans will cost them more. thank you for your patience. hitting on something you said. it might be a small number of people, but they are very angry. you say that eventually they will be convinced that this is insurance that they need. if i am a working mom and i have two small kids at home, i don't want drug and alcohol rehab care and mental health care. these people vote and they are mad. how do you think that that plays out in the next election? >> we are as far away from that is possible and i think the rollout has been disastrous and kathleen sebelius took responsibility for that today, saying that it has been a debacle. but the question is how does that impact voters and you take a state like new jersey and you heard a congressman say that there's 800,000 people who will be negatively impacted with

policy changes in the look out at california and there is a larger number there because that was a highly unregulated insurance market. >> hundreds of thousands by each provider. cancellations and you're hearing about. >> if you look at new jersey and california, they are both blue states. it's not likely to have a big shift in terms of the senate race and certainly not when you get to 2016 in the presidential race. but if this thing implodes and then becomes a matter of blame game on a massive scale than we what we are seeing now, then there is a potential for fallout and right now you have to say that it doesn't look like it. if you get to a state like florida, they could have some complaints. but right now politically doesn't seem to have much

blowback. connell: if you are advising the president, your job is going to be -- and it's interesting what your take will be, to prevent that. you look at the concert are getting played out. all of the news on every network the last few days. so what is your next step if you are the white house and much what should the president do and how does he argue for it? this is to repeat a phrase that everyone is saying in his signature legislative accomplishment and how does he argue that that is just not getting out there right now. >> i think that there is a big pro. i think it sometimes gets obscured because the political fight is what we are focused on. what is going on the hill looks like kabuki theater and you have the democrats giving kathleen sebelius is reset and then here comes the republicans and they are saying that you are

disappointing in this thread plan should go away and we can't stand it. and you go back to the democrats. so you know, come on. but the good of it is on the president's perspective and from many people's perspective is that the filter system that we have in the united states is a tremendous burden on business and oftentimes driving up the cost of doing business in our country and it can for families drive them into bankruptcy if they have a catastrophic event and taking care of an elderly person or someone has a car accident. we all know the realities. the president needs to focus on here is the good, the consumer protections when you look for health insurance and protections in terms of allowing you to keep your kid under plan and those kinds of positives have been obscured by all the negative publicity. he's got to get out there.

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he one our breaking news conference continues. with the health and human services secretary kathleen sebelius. the administration at best or worst lie to the american people about what people have a source insurance plans though. dagen: at the big picture is it

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>> the site has had serious problems. >> the person now in charge and as an integrator is one of -- >> who was in charge? >> was in charge -- >> who is the individual -- >> michele some of your. >> michele snyders the one responsible for this debacle. >> excuse me, michelle snyder is not responsible. told me accountable for the debacle. >> earlier today, secretary kathleen sebelius on the hot seat, testifying right now. had an cheryl casone with dennis kneale taking use through the next dollar of markets now with more details on the mistakes from the with the obamacare

rollout. a live picture from capitol hill, her testimony continues. we will be talking later about health care should you invest in drug stocks or insurance companies, two analysts will go head to head over that. markets now starts right now. adam: kathleen sebelius taking all the blame for the problems he's in the obamacare rollout. rich edson joins us with the latest. peter: kathleen sebelius told president obama before october 1st they would be ready to go and she said clearly she was wrong. in this testimony she said there should have been more testing of the web site. the testing was not sufficient. the experience of going on healthcare about that is frustrating and she apologizeds. >> i am as frustrated and angry as anyone with the flawed launch of healthcare.gov. let me sail directly to these

americans you deserve better. i apologize. i am accountable to you for fixing these problems and committed to fix the site. peter: as for her and the line up and rolled for health-care kathleen sebelius says he can't provide that number because the numbers are not reliable because she says website is not functioning properly. he also addressed the issue people are talking about whether president obama was telling the truth when he said you like your insurance you could keep it. kathleen sebelius as insurance companies every year canceled insurance plans, and republicans that out, the health-care law has been written, get rid of those and phase out those bare bones planes making plans for the most part more expensive and that isn't necessarily true. adam: let's go to live testimony

of kathleen sebelius questioned by democrat kathy carter of florida. >> for you and the administration, i think it is important to point out the affordable care act is more than just the web site. despite all the obstruction by republicans in my home state of florida, nationally, even going as far as to shut down the government millions of americans are already betting and there are benefits that are not already tied to healthcare.gov. many improvements make the employer coverage into medicare with a vast majority of americans receive coverage, not dependent on healthcare.gov. >> that is correct. >> problems do not affect millions of individuals thanks to the aca who don't worry about monetary caps on their coverage that previously send them to bankruptcy. >> that is true and the quote

the president was quoted recently saying if you have health care, you don't have to sign up for the new market. referring to the large portion of insured americans whose plans stay in place and move forward. >> i understand frustration with the web site but i don't understand why people are not similarly operated by the lack of medicaid coverage in many states. you find that hypocritical? >> it is very troubling, millions of low-income americans still have an affordable option if states don't take advantage of the expansion program leaving states bearing the cost of uncompensated care, families bearing the cost of families who cristie kerr their kids, workers not able to go to work, people accessing care through emergency room doors, the most expensive least effective care they could get. >> the gentlelady's time is

expired. mr. gardner. >> thank you for being here. here is my letter. letter my family got canceling our insurance. we chose to have our own private policy in colorado so we could be in the same boat -- cheryl: monitoring the testimony in front of the house energy and commerce committee with kathleen sebelius health and human services secretary and she was entering questions from a democrat from florida but right now we would like to bring in mississippi republican, member of the same committee congressman harper. thank you for being here. your questions to kathleen sebelius earlier, we produce documents to her from cd-i that you obtained, she has not seen the document. correct me if i am wrong the company said they wanted a review board and the company specifically said here are challenges.

>> yes. this was on october 11th. c g i is responsible for the web site rollout and acknowledging problems and they might need a review board and part of that would be to decide what could be fixed by technical issues, what should be fixed by political issues which was rather stunning to realize that that was in the document and was also not very comforting to realize kathleen sebelius had no idea about that and went on further to say on the last page of the slide show that they were going to look at the issues and were unable to determine whether or not this was due to website issues or that people didn't want to sign up for it which are two completely different issues as you know. one you can fix, the other event after three years the presidential still trying to sell the obamacare plan to the american people. cheryl: that was the other line of questioning you addressed. the think the president is

responsible? she denied that but if you pressed her more and more relaxed response to you was one ever. >> can you imagine you are trying to get what would be a basic understanding of people that the ceo is responsible and i got whatever. cheryl: did that surprise you a member of the administration said that? >> i was not expecting that. i would prefer of course the president is ultimately responsible for his administration but i accept responsibility would have been the grown-up and try was looking for. i haven't heard a whatever since i was in high school. cheryl: i wouldn't say it in front of the nation. i want to ask about gary coleman, the agency official, some would like to see him resign. she said she does not think he should resign. do you think he should resign

for his role in this? >> at a minimum has to come back and answer to the committee again on his position and we have been getting lots of runaround. this is consistent with that, the american people don't have a lot of trust in this administration and that goes back to other you choose from benghazi to now, the rollout of obamacare. tell us the truth and let us deal with it and we will work accordingly so to have her refer to glitches as the president has done or to a punch list, that really makes you think it is a minor deal. this is not ready for prime time and that is obvious. and i guess if the president said repeatedly if you like your health insurance you can keep it he should have said if i like your health insurance you can keep it because it is not really, we have a lot more people losing coverage than signing up under obamacare.

cheryl: curious what you make of that. aside from the blame game administration is launching, it was the company's fault or the company that ran the web site, hundreds of thousands of people are getting their policies counseled and that was the problem made by the president when he started to sell this plan that they would not lose their policies. now they are. what do you think the gop should do? what is the next move? and a situation placed by march, we will have five starts to be thrown out. what should we do? what should the party do? >> the secretary was asked do you think maybe we should extend this delay, month delay in this being ready. it has four months. and watch her body language on the answers to that question.

she did not look at the questioner. it is clear she had little confidence that this was going to be done. there is no down after three years the president has been on the campaign trail trying to sell the american public with this. we have to keep chipping away, get to the truth. the investigatory process we have used on our committee on energy and commerce and through others, people will see we have gotten the runaround, it is not ready and it should have been delayed. can you believe after three years it is not ready? the amount of money, we will get details on this, the amount of money being spent, some of that not under the category of high tea. no telling the dollar amount on here and there is nothing in place as a plan to recoup payments that are made to individuals that are going to get subsidies that don't

qualify. this is a disaster for the american people. cheryl: appreciate your time on a busy day for your committee. the back to kathleen sebelius. >> when you with the insurance commissioner in kansas and kansas's governor those plans are not good enough for those hard-working kansas families. >> i wouldn't tell you in the roles i had the honor of serving in kansas on worked every day to try and eliminate some of the discriminatory features of the insurance industry that finally with the affordable care act are gone. my successor, elected insurance republican commissioner and i worked on a series of plans to expand coverage. i did work on these issues. we were not able necessarily -- >> you say these were lousy

plans? not true insurance, you think the plans that were offered when you were the insurance commissioner weren't true insurance? >> in the individual market the insurance commissioner in kansas and virtually every place in the country does not have -- authority over the plans. >> a true insurance plan -- >> a lot of them are not true insurance plans. >> gentleman from vermont. >> i will try to summarize quickly what i have been hearing. the web site must be fixed, you have been very forthright and you are going to fix it. number 2 i am here in a tone changed. we got a real battle about health care. we have a battle in this congress. it was cast. the president signed it. the supreme court affirmed it, a brutal battle, there was an election where the american people affirm that and the last gasp effort was to shutdown the threat of debt default but what i am hearing today is there are problems and people want to fix them because all of us represent

people who will win or lose depending callie effectively this is rolled out. third very significant question about existing insurance policies which the president said and sullen but let's acknowledge something. a lot of insurance companies were ripping off innocent american people by promising them insurance until they got sick, then it got canceled because they, quote, have a preexisting condition that was not, quote, disclosed. that has got to end. the challenge for us going forward is to make health care affordable. my question is, is there any indication there has been a slowing of premium increases as a result of the affordable care act? because unless we can keep those premium increases down, they can't rise faster than rate of profits, all of us are going to lose. >> i would say the trends in the private market over the last

three years are that costs increases have slowed down, are rising at a lower rate than the decade before end in this individual market, the old individual market, the typical increase was 16% year in and year out, that came with additional medical underwriting. it gives you a sense of how the costs, we know medicare costs are down and medicaid costs added decrease per capita last year, not an increase, underlying health care costs are down. these rates in the new marketplace have come in about 16% lower on average than was projected not by us but the congressional budget office and we know that in many of these markets they are much more competitive. i believe in market competitiveness. that drives down rates. states where the most companies are participating have the lowest rates and new companies

have come in significantly below the old monopoly companies that often dominated this individual marketplace. we are on a path way. are we there? no. affordable coverage at the end of the day for everybody is the goal. >> i yield back. dennis: we will be back with more bickering as democrats and republicans face-off between understanding and all the obamacare fraud. .

cheryl: we monitor testimony out of washington with kathleen sebelius morning a check on the markets, lauren simonetti on the floor of the stock exchange. we are one hour and 43 minutes from the fed decision. >> that decision at 2:00, and stocks wobbling ahead of it earlier this morning, we did it knew fresh all-time highs, 33 for the dow, 33 for the s&p but coming out of those a little bit right now downie jean points

down 13 s&p down by 4, disappointing report on private sector job creation and the government support for october next friday. a disappointment, pushing higher by $9 as a result of that. typically a two day meeting. we see more of a steady type of trading like we are seeing now but yesterday's run off in some cases is unusual and everybody here is looking not only at what the fed is going to do, cannot expect them to do what they were doing but what they were going to say as get more in, less than an hour. cheryl: thank you very much. dennis: democratic representative sarbanes is questioning. >> important to understand it is not being shut but steered some place else where they can get a

good opportunity. >> the first option for those companies is to say we would like to keep you here and here are the plans we are offering buu to be fair customers will now have an opportunity to look across a landscape which they couldn't before. they will have entry into those of their windows which was a preexisting condition. the market will have financial help in purchasing health insurance which none of them had before. >> my time is expired. >> earlier in your testimony today you said a couple times plans we enjoy but as you noticed with mr. gardner's eloquent testimony we are not going to be in the same plan you are in after january 1st. i was one of those who thought was the a good idea as part of a proposal floated around bugs in congress that the president and the cabinet secretary should also be in the marketplace and not have a special federal plan

that you will have after jan. first. the president issued a veto threat. did you discuss the veto threat with the president before he made it and have you discussed it since then? and then i would have to ask relating back to the contractors involved in this, c g i told us the spanish website was ready to go, they thought everything was ready as they did the regular site. that didn't prove out but they were told not to implement it. the shop and browse section, do you think they were misleading this committee when they made those comments? >> they believed that product independent of the entire operational site was ready and tested. a determination was made, i was involved in the medicaid transfer to say let's minimize the risk. >> that raises the next

question. one of the other contractors indicated to us that part of the problem was once you took away the ability to browse, everyone set up an account, and a mess of the browsing options as well and that actually contributed to the logjam and contributed to the problems so is he correct on that? people looking without signing up -- >> would have been advantageous. i can tell you the reason the decision was made going forward was to minimize risks that didn't work so well but adding additional features that didn't involve people, actually working. cheryl: kathleen sebelius responding to a question from morgan griffith, a republican. wanted to get part of her answer. we will take a quick commercial break. a lot of back and forth going on covering a lot of different pieces of that website.

we will be monitoring for you and take you back if things heat of the but at this point, she has been gone since 9:00 a.m. eastern time and most of the congress men and women got there questions out. we will continue to monitor but that is coming up on markets now. stay with us. it's a growing trend in business: do more with less with ss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind.

dennis: every smart phone user's fear, spill coffee on herself or drop in the bathtub and chances are it is ruined and it has 85,000 times every day but dry box says it can rescue your phone and try it out in 25 minutes a we will put it to the test on national television with these brave gentlemen, ceo dean and david millsman. this is a real working phone. real apple smart phone. and i have checked it out. israel and we will drop it in here. there it is and there you see the bubbles beginning as the water penetrates the case of the iphone. you got this machine, a patent pending and this machine says within 25 minutes it can try out the phone inside and out and make it most times work. you have 15 models located around retailers and a couple in the new york area.

what is it going to cost to get this to save my cellphone? >> for the consumer one needs to be a quick convenient service where they go down the street and 25 minutes later have a resolution for their web phone. we have an 80% success rate within 24 hours, although we have seen it days after words and still successful. >> why can't i take my hair below ran dry out the phone? >> it will push moisture into the phone causing some more damage inside. dennis: take that baby out and get your hands wet. and put it in the dry box and start the dreyer running and you guys will be hearing the coming as that happens and let's see if it works. we come back later and take it out, test it and see if these guys can deliver what they are promising. dennis: we will be back later. cheryl: all right.

let's get you up-to-date on what is happening on the west coast. things moving in the studio. i am scared. google continuing to keep secret the reason it has a mysterious barge in san francisco bay. local tv station reported it will be a floating retail store for google glass. whatever it is doable convinced one coast guard employee to sign a non disclosure agreement. we will keep you posted looking at shares of google, down more than $6. they had come up with something. putting the pressure on oracle chairman and ceo larry ellison. california pension fund joining york city in asking oracle for a deal for what they say is larry ellison's runaway pay. take a look at shares of oracle. stock is down $33.60 one cents. finally san francisco based problem in yesterday's pr tied to national cab they. the vehicle for higher site promise to deliver kittens for

15 minute snuggled session. in new york, san francisco, seattle for $20. the response was overwhelming they ran out of kittens who were traveling in suvs. what you saw their apology, offering a $10 credit if you didn't get your kit and fix yesterday. that is your west coast minute. we are here to take a break. hold on. dennis: nice to see you. cheryl: two analysts are going head to head over health-care. where should you put your money now? we will have that story and the lot more. your phone in a box. as we go to break let's look at some winners in the s and p. losers as well. ♪ tdd#: 1-800-345-2550 trading inspires your life.

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and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. dennis: let's go to the stock exchange, lauren simonetti, one of the dollar's new members, visa, day. >> it is a member of the doubt, you are correct. and $1.85 a share. and double digit, for the last five years. nice games for visa added to the dow partially because of that. the use of plastic helping out, it is down today and so are their rivals. and american express, and it did

hit a high today, three other dow components, general elector, as well as 90. four down stocks hitting highs, the market hitting highs coming down a little bit, the dow is down 11 points and the nasdaq down 12 ntsb down 3.5. dennis: thanks very much. cheryl: fox business stock radar and we are looking at general motors. $700 million in earnings down 53% year over year, revenue $39 billion. north america doing well, 15 quarters for general motors, year chart. the stock is up 40% over the last year. they took a government bailout. board did not. if you compare ford and general motors, look at actually the side-by-side comparison which is similar for ford and general motors. that is one thing i wanted to look at but going back a couple

things, and this is in 2009, the chapter 11 reorganization, the company has $250 billion market cap but a treasury report coming out, $9.7 billion would be lost for the taxpayer, the government, $50 billion bailout. it happened in summer of 2009. ford did not take a bailout, general motors did. what is the government going to do with this, we still own 1 hundred million shares, 1.01.three million shares, the government telling us they will sellout of the stock in april of 2014 but the one year chart one more time even with a comparison of ford you can see the stock has been on a steady move upward. why did we lose some much money? you see when your chart on this like general motors the government had to sell at a level that was actually lower than they bought the stock at. dennis: all right. in the media minute cbs news has

digital dream is developing a digital news service for delivering 24/7 video to viewers on whatever is in hand. buzzfeed.com says cbs is in talks to carry the service to deliver news to smart phones and tablets, the x box, apple tv, youtube and other platforms. it is said dubya at project of david roads. unlike nbc and fox cbs lacks a cable news channel as an extra outlet for its news division and entertainment programs move to new platforms like netflix and hbo new shows haven't yet made the jump but news viewers are older and less likely to watch online so if cbs builds it will they come? also, dashing intel std dreams, it helped unveil a new web tv service by year end with thousands of workers testing it at home and all things websites says intel is ready to hand off

the struggling business to verizon which has web box instant and online tv service of its own. intel had a hard time dealing with paula wood. verizon has already endured a lot of that pain. cheryl: the luck of the norwegians, and also man, his newfound fortune. christopher cote bought $27 billion of digital currency in 2009. they forgot about it. massive spark in popularity it made him check his wallet, 5,000 coins worth $886,000. you are looking at some longer-term charge peer. the 29-year-old engineer cashed out using the proceeds to buy a house. if you're looking to buy digital phrase, the coffee shop made it easier rolling out a press publicly available:8:00 p.m. yesterday. customers can scan their palms and by $3,000 worth of coins for day, the data dual currency trading and $215 per bit coin.

if you buy into bit coin. dennis: turned into $80,000, that is amazing story. sounds like a bubble to me. we have coming of the results of our drive test. will that be saved by the dry docks? cheryl: healthcare. washington, los specter of the right play for your portfolio. as we go to break take a look at the ten year treasury. stay with us. when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company.

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ashley: ashley webster with your fox business brief. saber pharmaceuticals ceo jeremy levin stepping down from his role of the israeli drugmaker today. the company did not give a reason for the departure but the drugmaker's third quarter earnings report will be released tomorrow. the cfo has been named interim ceo. the board affirmed the search committee for a permanent successor. again and 30,000 jobs in october and looking like 20,000 according to a payroll processing firm adp that is the smallest increase since april. september at number was revised down to $140,000. one of the best minds in health-care can't run a company.

tonight at 8:00 eastern neil cavuto talks with ceo richard squishy about fixing the health care system. that is the latest on the fox business network.

cheryl: from pharma to health services the health-care industry getting ready for obamacare but where should you putting your money in the sector or sectors? as ac capital iq and a.j. rice of ubs join me now. welcome, i hope you can hear me. let's talk about this, good to have you here. let's start with you in studio. this is the hospital insurance company. it is a stock-picking environment. talk about the sector itself. you are recommending it to people. >> some companies have more exposure, less exposure to the changes in washington.

we want to be with the people who are opportunistic and take advantage but don't have a lot of current business at risk. cheryl: overall that sector, the details in a second but what about you? let's talk about what you look at, the pharmaceutical business, concern about the pharmaceutical business that aren't the money is not going to be there because of obamacare and the control of regulation these companies are seeing that it is not what it was. how do you respond to that? >> that is correct. the companies have been cutting back on r&d expenditures to improve their margins which is a factor but the r&d is getting smarter than it has in the past and the productivity can still be improved at a lot of these companies so i am not totally concerned about that situation. cheryl: are not over the last year, 38% of the sectors so

money being made at 43%. let's talk about health care. that sector is performing, you would think with everything going on with obamacare and kathleen sebelius that the 32% over the last year. >> the opportunity for those who haven't had coverage, for some insurers it could be a positive as well. cheryl: one of your picks is united healthcare, united healthcare was part of the health-care exchange, subsidiary of united healthcare, very involved. i you concerned about your stock? >> that may be one the jaws of defeat. the exchanges and allowed the group, their division has done well and they were named as general contractor to fix the exchange. that is a recognition that there

part of the exchange is going well and others struggling. cheryl: if you look at the pharmaceutical industry overall another concern has been we have overseas competition, the israelis are doing it better when it comes to development, generics are a lot more common, are you concerned those patents are an issue? >> i think the sector has largely overcome the patent cliff expiration loss over the last year or so. that is positive for earnings comparison. as far as the overall generic situation let's see what happened today, things are somewhat uncertain in those areas. overall, the leading pharmaceutical companies, the

ones that we recommend purchase on the, are really focusing their r&d into new areas like cancer and immune therapy and so on that have a lot of growth potential. cheryl: let's talk about bigger names. you have merck and pfizer and johnson and johnson, a lot of these companies have international partnerships. how crucial is that these guys to keep making money in developing drugs? >> that is a trend that will be continued in the future. pfizer has deals with merck and bristol. i have been covering the industry for many years. cheryl: they're all together. >> that is pretty much true. i have never seen the level of partnering and cooperation, that reflects a tough environmental little bit but certainly efforts

to improve the overall situation. dagen: cheryl: the big concern for hospital companies was the have been shouldering the burden for decades but the uninsured goes to the emergency room and hospital has to treat them. are you bullish about obamacare's effect on hospitals? >> they are carrying 15% of their revenues and bad debts and moving in a positive direction, some of these people get coverage on medicaid or the insurance exchange and everybody recognizess people most likely to sign up are the ones with preexisting conditions with a high propensity to get sick, that will be helpful to the hospitals and we are at a time with all the confusion in the press right now about obamacare expectations of come down quite a bit. cheryl: you are blaming the press for obamacare's problems? >> it created -- cheryl: want to clarify here, we

are not confused. dc is confused. thank you, we will see where these sectors go. they are looking good. dennis: european union investigating spying allegations but this time involving russia. newspaper reports say russia tried to put spy where on computers of visiting delegations at the g 20 summit in st. petersburg. the investigation hasn't turned up any security concerns although it sounds like it is a concern and russia is denying the reports. that ends it right there. cheryl: president obama in boston but not good for the red sox game. he is fair to top healthcare in the state that did it first successfully. also coming up in the next hour the man behind massachusetts's health-care exchange says we are just days away, not months from obamacare's drop dead date. dennis: that plan went over budget. i have the figures. earlier this hour we put a

soaking wet iphone into a tank of water and put it in the drop box and set the clock. will work? the results coming up.

dennis: time to check our smoking what smart phone. we dunked an apple iphone in a tank of water and placed in a dry box and it has been blowing and humming and droning ever since aiming to remove all moisture from the wet phone but 25 minutes and you see on the clock coming on 25, the managing partner, and a couple quick

questions before we see results and i admire your plug for coming on and testing out and why not get dry raw rice as part of a way to get the moisture out? >> rice is the biggest home remedy that there is. three years ago nobody knew about race and now everybody does. >> it doesn't work. >> will the board moisture but the starch get sucked inside the phone and damages the inside of the phone and it is like playing russian roulette. dennis: take the phone out while dean, you tell u apple mess up by putting it in the dry box. >> once you get your phone with the warranty, water indicators get tripped, it is already -- the phone gets wet. >> what does it cost me? >> locations we have, $31.99, if

successful. >> what do you charge to work? >> are you ready to try this? turn this on? hold it up and let's see it. >> a temperature warning. dennis: it heats up, you using each as well. you want to hold this up? dennis: the phone is working. >> just a couple minutes. >> turn to that camera. there it is. and and this >> it has some pretty expensive components. good luck, thirty-second left. try to get into retail stores and when you went your phone take it over and put it in. >> our model is to get it anywhere and everywhere so

people can have a convenient solution and they know their phone is working and get through the hassle of buying a new one or data loss. dennis: next up, bigger opening for tablets. >> that is on board right now. dennis: nice job. congratulations on the successful rescue of the wet iphone. thank you. gerri: quite a day in d.c.. is there a drop dead date for obamacare? the man who gave massachusetts health exchange up and running joining adam coming up with his words of advice. the iphone 5s stands for slow. having trouble with your iphone? you are not alone. markets now, stay with us. peace of mind is important when you're running a successful business.

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nicole: unacceptable. as we health and human services secretary kathleen sebelius described the obamacare rollout. the grilling on capitol hill ahead of president obama's trip to boston. adam: we talk to the man that helped then governor romney launch the exchange the first five years. jon kingsdale joins us and why he says november 1, just two days away, is the critical date to get obamacare running smoothly. nicole: are you ready? it is said they bid .what you need to watch for coming up. at 2:00 p.m. eastern. plus pnc financial chief investment strategist on why there is no better alternative than stocks right now. adam: time to head back to the floor of the new york stock exchange. lauren simonetti they're keeping an eye on your investments and everybody waiting for the fed decision.

lauren. lauren: a hush comes over the crowd. the dow down 4.5 points for the nasdaq down nine. flatlining ahead of the decision within the hour at this point. we are in wait and see mode. waited till the government shutdown affects the economy. inflation still remains a no show that would give the fed some wiggle room. i also want to talk about a dow component, nike. along with the dow industrials and the s&p earlier this morning. nike shares are up now. they got enough grade from morgan stanley to overweight. so we will continue to check on them throughout the day. back to you. adam: thank you very much. nicole: health and human services secretary kathleen sebelius taking full responsibility of t